NFTMex is part game, part satire of “*mex culture” created to recapture the experience of flashing greens & reds on Arthur’s playground
Hi folks, Sherpa here… There’s an old expression that I’ve often applied to the crypto space: “fly it up a flagpole & let’s see who salutes”. There’s another old expression I’ve been meaning to apply: “shit or get off the pot”.
With that in mind, let me introduce a new project I’ve been working on… on the Polygon Network.
What is NFTMex?
NFTMex is part game, part satire of “*mex culture”. We wanted to recapture the experience of everyone just staring at price movements together & banking on the results, while mostly trolling each other in the box. Nothing quite beats staring bleary-eyed at the flashing greens & reds on Arthur’s playground at some ungodly hour.
With that in mind, we created NFTMex from the ground up with the idea that folks could enjoy that same experience, but everyone involved in the ecosystem could participate without gas costing them a fortune. Further, everyone in the ecosystem has an opportunity to benefit from actual utility.
How It Works
NFTMex BTC Team Green & BTC Team Red NFTs are a guess at what the weekly close will be, in terms of “Up” or “Down” for the week. At weekly close (20:00 EST) the result will be recorded along with the top five holders of the winning side, and the top five traders of the collection, overall. Once the winners are announced, holders can sell if they’d like, in order to prepare for the following week’s game.
This number can be expanded to include more winners as the trading volume scales. Once OpenSea royalties are received, they will be distributed to the winners as recorded, with an even split to winning holders and a tiered split to winning traders. Vote to be held by the community on how the tiered split will break out.
This is really an experiment in giving NFTs some actual utility, rather than just a Russian nesting doll of new animal NFTs for gen1 holders. If a community forms around the concept, we have plans to expand to new coins & twists, with some exciting ideas such a Ref Link Downlines for minting the next generation – in the style of * the mex.
NFTMex Royalty Distribution
Royalties will be split once distribution from OpenSea happens, with 30% overall split between treasury funds for small-holder/small-trader incentives & other ideas to be proposed & voted on by the community.
One early idea we had is to poll verified community members on what new & exciting projects there are in the NFT space, and use some of the funds to sweep the floor & distribute some to holders based on RNG.
Some will, obviously, be held back as a community insurance fund. One thing we will never do, though? We will not be purchasing NFTs of either side, whatever the floor price hits. This is a game about community sentiment, prediction markets, and how they affect trading & floors when applied to NFTs. To purchase them ourselves would be to change the results.
How To Play
Just head over to the NFTMEX Collection at OpenSea and purchase either Team Green or Team Red NFTs at the price of .05 ETH each. There is a limited number of each, capped at 1,000, to incentivize trading & upward pressure on the floor in an effort to add value to folks who give it a try, early.
Have Some Fun
As with any other experimental software, Do Your Own Research and only play with what you can afford to lose. This is an experimental game at heart, and not something we want anyone risking their life savings on. You should also make sure that you’re only following a link to the official NFTMex Collection, as any copycats may not be playing the game by our rules.
We haven’t reached out to any investors, we hold none of the NFTs ourselves, and rather than a blind mint on Ethereum with huge gas fees, we are listing them straight on OpenSea (Polygon) & eating the fees in order to provide a free & fair market for people to play the game.
That said: Let’s have fun. Trollbox (NSFW!) & DJ channel in the discord because NFTs are about art, community-building, utility and collaboration.
Related: Amateur’s Guide To Aping NFTs – Part One
Related: Amateur’s Guide To Aping NFTs – Part Two